Moov Surpasses $3 Billion in Active Listings for Used Semiconductor Equipment

This news follows the company’s May announcement that it offers real-time logistics tracking and virtual equipment inspections, as well as 100% insurance coverage on purchased equipment during transit.

“Moov now has extended beyond being a mere marketplace to truly provide an end-to-end technology for buying and selling used semiconductor manufacturing equipment,” said Steven Zhou, co-founder and CEO of Moov. “When you buy on Moov, we’re essentially giving you free inventory management and procurement software to make that experience easier.”

Thanks to ease of use and scale of inventory, Moov has become the first stop for end users and distributors.

“If we’re looking to buy a system, the first thing we do is go online to search the Moov platform for the tool we need,” said Tal Levin, vice president of sales and technology at Arizona-headquartered Green Technology Investments LLC.

Data Creates Better Customer Experience

As the marketplace surpasses the $3 billion mark in active and available listings, Moov’s wealth of secondary capital equipment market data enables more efficient transactions.

“We’re already harnessing the massive amount of data we have on the used equipment market and transactions to improve the customer experience,” said Zhou. “Right now, that means a stronger, smarter search experience on our marketplace, and customer-facing features like personalized asset and content suggestions. In the future, the possibilities for this data are endless when it comes to applying AI and machine learning to create a better, smarter and more personalized customer experience, as well as a more transparent secondary equipment market.”

Moov has raised more than $45 million to date, closing a $41 million Series A funding round led by Tiger Global in November.

“We built the first real-time global digital marketplace for capital equipment, recently announced a suite of aftermarket services, and now we’ve launched and will continue to improve software tools to enable enterprise buyers and sellers to easily transact on our marketplace,” said Raymond Mahon, Moov’s head of customer success. “With this update, customers can expect a smarter, faster marketplace experience, unified hub for activity management, and a more personalized buying/selling experience.”